The World Bank has advised Nigeria to scale up its social investment programmes to address the large number of people living in extreme poverty.
The World Bank Country Director, Mr Rachid Benmessaoud, gave the advice during the inauguration of the Africa Social Safety Nets Report by the National Social Safety Nets Co-ordinating Office and World Bank.
Mr Benmessaoud said that Nigeria spending less than three per cent of its Gross Domestic Product on social investments is not enough to fight poverty, build human capital and spur economic growth.
He said the Bank is in full support of the country’s social investments and that is why it helped to establish a social registry containing legitimate names of poor households in parts of the country.
He said the Registry had helped the Federal and State governments to reach genuine vulnerable people through different targeted intervention programmes like the conditional cash transfers.
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